Timberline's Plan of Compliance Accepted by NYSEMKT
25 März 2014 - 1:30PM
Marketwired
Timberline's Plan of Compliance Accepted by NYSEMKT
COEUR D'ALENE, IDAHO--(Marketwired - Mar 25, 2014) - Timberline
Resources Corporation (NYSEMKT:TLR)(TSX-VENTURE:TBR) ("Timberline"
or the "Company") announced today that on March 21, 2014 the
NYSEMKT LLC (the "Exchange") notified the Company that it accepted
the Company's plan of compliance (the "Plan") and granted the
Company an extension until June 30, 2014 to regain compliance with
the Exchange's continued listing standards.
Based upon a review of the Plan and information submitted by the
Company, the Exchange determined that the Company made a reasonable
demonstration of its ability to make substantial progress toward
regaining compliance with Section 1003(a)(iv) of the NYSEMKT
Company Guide (the "Company Guide") by the end of the revised plan
period, which the Exchange has now determined to be June 30,
2014.
As previously announced, the Company had received notice from
the Exchange that the Company is not in compliance with one of the
Exchange's continued listing standards, specifically Section
1003(a)(iv) of the Company Guide, in that it has sustained losses
which are substantial in relation to its overall operations or its
existing financial resources, or its financial condition has become
impaired such that it appears questionable, in the opinion of the
Exchange, as to whether the Company will be able to continue
operations and/or meet its obligations as they mature. In order to
maintain its listing on the Exchange, the Exchange requested that
the Company submit a Plan addressing how the Company intended to
regain compliance with Section 1003(a)(iv) of the Company Guide.
The Company subsequently submitted its Plan and other requested
information to the Exchange.
The Company's listing is being continued pursuant to an
extension and will be subject to periodic review by staff of the
Exchange during the extension period. Failure to make progress
consistent with the Plan or to regain compliance with the continued
listing standards of the Exchange by the end of the extension
period could result in the Company being subject to the Exchange's
delisting procedures.
About Timberline Resources
Timberline Resources Corporation is exploring and developing
advanced-stage gold properties in the western United States.
Timberline holds a 50-percent carried interest ownership stake in
the Butte Highlands Joint Venture in Montana. Timberline's
exploration is primarily focused on the major gold districts of
Nevada, where it is advancing its flagship Lookout Mountain Project
toward a production decision while exploring a pipeline of quality
earlier-stage projects at its South Eureka Property and elsewhere.
Timberline's leadership has a proven track record of discovering
economic mineral deposits that are developed into profitable
mines.
Timberline is listed on the NYSEMKT where it trades under the
symbol "TLR" and on the TSX Venture Exchange where it trades under
the symbol "TBR".
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-looking Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the Company's Plan of Compliance submitted to the
Exchange, the management's expectation that the Company will
complete the Plan, potential future financing transactions,
prospective income from the Butte Highlands Project and the uses of
such income, if any, a possible production decision at the
Company's Lookout Mountain project, and the Company's ability to
raise enough to continue as a going concern. When used herein, the
words "anticipate," "believe," "estimate," "upcoming," "plan,"
"target", "intend" and "expect" and similar expressions, as they
relate to Timberline Resources Corporation, its subsidiaries, or
its management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements. Factors that could
cause or contribute to such differences include, but are not
limited to, risks related to the Company and Wolfpack Gold not
being able to reach a definitive agreement on a mutually beneficial
transaction, risks related to the Company not being able to obtain
alternative financing, risks related to potential future
transactions, risks related to the Company continuing as a going
concern, and other such factors, including risk factors discussed
in the Company's Annual Report on Form 10-K for the year ended
September 30, 2013. Except as required by Federal Securities law,
the Company does not undertake any obligation to release publicly
any revisions to any forward-looking statements.
Timberline Resources CorporationPaul DircksenCEO208.664.4859
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